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NEW YORK (
) -- "Days like this one are why we stay in the game," Jim Cramer told viewers of his "Mad Money" TV show Thursday.
But are the bull's days numbered? Are the markets about to take a nosedive? Cramer took aim at the naysayers and replied "absolutely not."
According to the latest round of fear and skepticism, the bears have drawn an eerie correlation between recent market action and that of 1929, where after the great crash, the markets rallied 46% in 147 days, a so-called "dead cat bounce," before sliding 85% over the next two years.
But Cramer called any correlation between now and 1929 "backwards logic." He said that in 1929, the worst was yet to come, while today, the worst is clearly already behind us.
Cramer said in today's markets, the banks have already failed and been resurrected. He said the same has occurred with the insurers, auto makers, and countless other industries.
In 1929, however, Cramer said there was no Federal Deposit Insurance Corp. to insure deposits, nor any social safety nets like Social Security. Back then, the Hoover administration was raising taxes and trying to balance the budget, while today the
is printing money as fast as it can, he said.
The bears say this rally is not for real. But Cramer argued that this 80-year-old coincidence in the chart of the
Dow Jones Industrial Average
is not a trading event. He said with most of the stimulus bill still not spent, it's hard to imagine things are not looking up in the future. "Only the fundamentals matter," he concluded.
Case for Natural Gas
When it comes to the state of renewable energy and energy independence in this country, Richard Kinder, chairman and CEO of
Kinder Morgan Energy Partners
said he's "fed up" with the path the country is taking.
He and Cramer discussed President Obama's energy agenda, which includes just about every source of clean energy, except natural gas.
Kinder said it's clear that natural gas is not on the agenda, and he has no idea why this clean-burning alternative to coal is not part of the plan. He said while wind and solar power account for just a fraction of one percent of the energy generated in the U.S., natural gas already has 25% of the market and a proven track record.
According to Kinder, reducing coal from 50% of the country's energy supply to just 35% would decrease overall carbon dioxide emissions by 10%.
Kinder said expanding natural gas production will create jobs and put people to work. He said that with natural gas reserves in Texas, Louisiana, Arkansas and even Pennsylvania, it would be easy to make gas available nationwide. He said natural gas can be moved safely and economically wherever its needed.
Both Cramer and Kinder agreed that natural gas is a tremendous natural resource and should be a part of the country's road toward energy independence.
-- Written by Scott Rutt in Washington
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At the time of publication, Cramer was not long any stock.
Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."
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